Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

India’s Balco and Hindalco reduce primary aluminium prices for the second consecutive day on Friday as LME spot aluminium prices dropped. The daily Davis Index for P1020 Friday fell by Rs1,250/mt ($16.53/mt) to settle at Rs135,221/mt ex-works India producer from Thursday.


Balco and Hindalco reduced prices by Rs2,000/mt and Rs1,750/mt, respectively, on June 26, driven by a drop in LME spot aluminium prices in the past two days. Both aluminium producers had earlier reduced prices by Rs2,000/mt on June 25 after raising them on June 18.


Balco cut P1020 price by Rs2,000/mt to Rs136,750/mt ex-works India producer on Friday from Rs138,750/mt on June 25. Hindalco reduced P1020 price by Rs1,750/mt to Rs135,750/mt ex-works producer from Rs137,500/mt on June 25. The spot aluminium prices dropped by $20.5/mt to $1,543.5/mt on LME on June 25.


Earlier, the state-owned aluminium producer Nalco increased its product prices by Rs1,000/mt effective from June 20. Since then, Nalco has not responded to the changes in LME prices.  


The Davis Index for ADC 12 Friday settled at Rs138,836/mt ex-works India producer, down by Rs1,000/mt from Rs139,836/mt ex-works India producer on Thursday.


The index for CG99.5 settled at Rs134,805/mt ex-works India producer Friday, down by Rs1,250/mt from Thursday. The index for EC rod settled at Rs140,060/mt ex-works India producer Friday, down by Rs1,250/mt from Thursday.



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